ATO (tax office) payments by credit card

[cove]

Is that a Citi run card JohnK?

 

[JohnK]

Is that a Citi run card JohnK?

Citibank is quite correct.

 

[cove]

Yes Citi stopped paying out points on ATO with no notice so I got caught last year. I wish they had told us that there was a change coming at the time when they were changing the points earn to zero.

 

[burmans]

Woollies CC is brilliant at a point per dollar. If anyone cancels this card due to the $89 fee maybe book an appointment for them to seek medical help. It is a great credit card.
Citi does not work for ATO points.

It's a decent card but personally I think a Citi Signature at $0 annual fee makes it pretty redundant and then why pay $89 a year for nothing?

 

[amaroo]

It's a decent card but personally I think a Citi Signature at $0 annual fee makes it pretty redundant and then why pay $89 a year for nothing?

I like my CBA DIA Amex - $0.00 fee and 1.5x QFF

Replaced my ex-love QF Ult Amex like a hand in a glove.

 

[ComeFlyWithMe]

It's a decent card but personally I think a Citi Signature at $0 annual fee makes it pretty redundant and then why pay $89 a year for nothing?

ATO. Simple.

 

[wafliron]

Can we start a list of credit cards that CAN be used for ATO payments?

Creating the inverse is much easier - to the best of my knowledge:

- Any Citibank-administered cards won't pay points for ATO, which means all the Citibank-branded cards and the Virgin Flyer / High Flyer cards (don't think there are any others - at least not common ones)

- Any Amex-branded cards (e.g. Amex-issued Amexes, not third-party-issued Amexes) pay points for ATO, but at the reduced (and sucky) rate of 0.5ppd.

- While the Woolworths Qantas EDR card pays points for ATO, there have been a couple of isolated reports of cards being cancelled when used for this purpose (typically people putting in excess of $10k/month of ATO through them - although I personally did this for a long time without issue).

To the best of my knowledge, that's it - no other reports of cards having "issues" with ATO spend. If you really want to be sure for your specific type of card, though, just put a very small ATO transaction through it and see what happens.

 

[oneoffcomments]

My concern is that if hammered hard it might be yanked. We do like this card a lot.
We put our personal taxes on it and then shuffle the business taxes across various other cards.
I found the Amex Blue we had in the draw (got it for a points sign up) so throw a few dollars on it just to see.
Yes the return is poor, but a good back up.
And the Citi cheque to self has worked out very nice.
We too are using some of the balance transfers as i seem to have more credit cards than an actual deck of playing cards. Royal Flush.

hot dog..I can only get to 42....edited to add that I found another two. Make that 44. Sorry cannot make the pack of cards

 

[diningdecadence]

hot dog..I can only get to 42....edited to add that I found another two. Make that 44. Sorry cannot make the pack of cards

View attachment 25990

i am hoping you're a mega mega earner, or most of those cards are cancelled, cos you may be in for some nasty letters come positive credit reporting later this month.

 

[nonpop]

Creating the inverse is much easier - to the best of my knowledge:
- Any Amex-branded cards (e.g. Amex-issued Amexes, not third-party-issued Amexes) pay points for ATO, but at the reduced (and sucky) rate of 0.5ppd.

Nope. See my earlier post ...Amex issued Blue QF card issues 1 to 1 ... Confirmed as at late Feb 14.
See Amex site about the cards earning. It is not crippled at the 0.5 earning rate like so many others from their own stable. And no annual fee.
So if everyone took Amex and no surcharge this would be an interesting card for the average spender me-thinks. The sign up bonus is nice as well. Don't know why everyone doesn't have one. Free candy all round for all. Mmmm candy.

 

[nonpop]

i am hoping you're a mega mega earner, or most of those cards are cancelled, cos you may be in for some nasty letters come positive credit reporting later this month.

Good tip ... Will bump up a few limits today.
We too have a stack like that ... But easy to get when we get a card each and then the business has some of its own as well.
They just seem to collect themselves.
And since I learned about ATO thanks to this thread / Cove ... Then I just can't seem to say no to a card with a sign up bonus.

OK I said it ... I am an addict.

Now excuse me whilst I go back to eggs Benedict, a glass of Bollie until my J seat is ready.

 

[JohnK]

i am hoping you're a mega mega earner, or most of those cards are cancelled, cos you may be in for some nasty letters come positive credit reporting later this month.

What nasty letters? If you cards are in good standing then it should not be an issue. Right?

 

[Pushka]

That's about right JohnK. Good credit ratings will now be shown as well as bad. Given that in the past, every credit card application was noted on your credit file, then that record is already there. So unless there was a previous issue then that hasn't changed.

 

[diningdecadence]

What nasty letters? If you cards are in good standing then it should not be an issue. Right?

not all banks put in a credit enquiry to an individual's file when application is lodged for a new one, so a bank may have granted a person a credit card on the basis that they had no other cards/ credit facility. come positive credit reporting, it may show that they in fact have 5 other cards with a $20k limit hence risk profile has significantly changed = nervous banks

 

[diningdecadence]

Given that in the past, every credit card application was noted on your credit file, then that record is already there. So unless there was a previous issue then that hasn't changed.

i'm not sure this is the case

 

[Pushka]

i'm not sure this is the case

Which bit?

I've obtained copies of my credit card rating (as a Director I need to know such things) and there are multiple credit card notes, plus Optus, GE Finance and Telstra etc).

 

[JohnK]

not all banks put in a credit enquiry to an individual's file when application is lodged for a new one, so a bank may have granted a person a credit card on the basis that they had no other cards/ credit facility. come positive credit reporting, it may show that they in fact have 5 other cards with a $20k limit hence risk profile has significantly changed = nervous banks

Most credit card applications do not ask how many cards you have but rather what is the credit limit of the cards in your possession.

Say when I made the application for NAB I listed $40,000 as my total credit limit and the card is approved. Then ANZ offers me a credit limit increase from $15,000 to $26,500 so I accept. NAB cannot turn around and say if we had known ANZ was going to increase your credit limit we wouldn't have approved your NAB credit card.

So I firmly believe if your cards are in good standing then you have nothing to worry about.

I am not sure how this is going to affect those who like to churn cards for the bonuses as some banks may not want to see a history with that many credit card applications regularly and could be reluctant to approve the application.

 

[diningdecadence]

just wanting everyone to be aware of the potential impact of the changes.

e.g. The five new data fields | Veda

Credit reporting system changes - your credit information

Over time, more accurate and comprehensive credit information can give some credit providers:

• a clearer view of your credit history to help make better lending decisions
• an opportunity to provide better credit terms and more appropriate amounts of credit to help you avoid over-committing
• the ability to offer credit to more eligible customers to make access to credit fairer.

 

[burmans]

ATO. Simple.

Except the general recommendation is NOT to use it purely for ATO, personally I think there are just as good ATO options out there which actually have use beyond ATO.

 

[burmans]

Most credit card applications do not ask how many cards you have but rather what is the credit limit of the cards in your possession.

Say when I made the application for NAB I listed $40,000 as my total credit limit and the card is approved. Then ANZ offers me a credit limit increase from $15,000 to $26,500 so I accept. NAB cannot turn around and say if we had known ANZ was going to increase your credit limit we wouldn't have approved your NAB credit card.

So I firmly believe if your cards are in good standing then you have nothing to worry about.

I am not sure how this is going to affect those who like to churn cards for the bonuses as some banks may not want to see a history with that many credit card applications regularly and could be reluctant to approve the application.

Most credit card limits are reviewable so credit card companies can and do reduce limits but the bigger issue would come when you want to apply for more finance. The assumption of most credit providers will be that if you have 40 cards with a limits of say $500K that you already have that much committed spend.

Note: can I also note 12th March is when Credit Providers CAN submit repayment history info to the Credit Bureaus, not when they WILL, it's likely to be another 6-12 montsh before we have a full Comprehensive/Positive reporting system.